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2022-12-31-accounts

Dutch Centre – Annual Report 2022

Report of the Trustees and Unaudited Financial Statements for the year ended 31 December 2022

for The Dutch Centre (A company limited by guarantee)

Charity number 1156855 Company number 8503161

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Dutch Centre – Annual Report 2022

Contents Page
Report of the Trustees 3 - 8
Reference and Administrative Information 3
Objectives and Activities 4
The Year in Review 4
Achievements and Performance 5
Fundraising Activities 6
Financial Review 6
Structure, Governance and Management 8
Independent Examiner’s Report 11
Statement of Financial Activities 12
Income and Expenditure Account 13
Balance Sheet 15
Notes to the Financial Statements 16 - 18

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Dutch Centre – Annual Report 2022

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees present their directors’ report and unaudited financial statements of the charity for the year ended 31 December 2022.

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Name: The Dutch Centre Charity registration number: 1156855 Company number: 8503161

Registered office and operational address: The Dutch Church

7 Austin Friars London EC2N 2HA

Trustees and Members in 2022
Juliette Bogaers Trustee
Edwin Welman Trustee, Chair of the Board of Trustees, Church Council appointee and
Member
Dutch Church Member
Michiel (Mike) Kermer Trustee and Treasurer
Frederik (Frits) Vogels Trustee
Jean-Jacques van Helten Trustee
Ajal Notowicz Trustee
Anton Valk Trustee
Bertjan van de Lagemaat Trustee, Church Council appointee
Hannah Altorf Independent Member

Board Secretary Marieke Albeda

Bankers NatWest 288 Green Lane Palmers Green London N13 5GA

Independent Examiner Tilesh Patel BA FCA THE SME CLINIC 7 Stratford Place London W1C 1AY

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Dutch Centre – Annual Report 2022

OBJECTIVES AND ACTIVITIES

For over 470 years, the Dutch Church in Austin Friars, in the centre of the City of London, has been a fixture and beacon for Dutch people living in Greater London.

To safeguard and ensure the health and purpose of this unique piece of Dutch heritage, the Kerkenraad (Church Council) decided in 2010 to broaden the appeal of the Church beyond the religious community in London. It invested in the fabric of the Church and created an attractive environment for a Dutch Centre with the following objectives:

• to educate the public in and promote Dutch arts, music, language and the Dutch cultural heritage, in particular (but without limitation) by the provision of a Dutch cultural centre in London; and

• to advance and promote the preservation and conservation of the Dutch Church at Austin Friars for the benefit of the public.

These objectives are contained in the Articles of Association of the Dutch Centre. In the exercise of their duties and powers, the trustees have had due regard to the guidance issued by the Charity Commission on public benefit.

THE YEAR IN REVIEW

The motto ‘Je Maintiendrai’ (“I will maintain” in English and “ik zal handhaven” in Dutch) has been the motto of the House of Orange-Nassau – the Dutch Royal family - since the time of William of Orange. He adopted the coat of arms of his cousin, René de Chalon, changing the motto ‘Je maintiendrai Chalon’ into ‘Je maintiendrai Nassau’. Later the word ‘Nassau’ was omitted. In 1815 King Willem I incorporated this motto into the royal arms.

In 2023 the Dutch Centre will celebrate its 10-year anniversary, a milestone of which the Board of Trustees is very proud. Together with the many volunteers, the Dutch Church, the Dutch embassy, our sponsors, the artists & performers and most importantly our guests, we have all been able to ensure that the Dutch Centre continues to exist and remain relevant. It has not been easy but 2022 has been a year where the Dutch Centre has once again been able to showcase the best of Dutch culture, Dutch art & literature and contributed to important contemporary discussions in British society.

Our programme of events kicked off with the “Shortcutz” film festival and throughout the season the Dutch Centre hosted a wide variety of events which, among others, included a talk on the painter Van Gogh, journalists Tim de Wit and Joris Luyendijk who introduced their new books (as part of our Nederlandse City Lunch program), the Liberation Day Concert (5th May 2022), a talk about the colonial past, sustainable fashion in cooperation with the Dutch embassy, a matinee concert by the “Stroat Ensemble” and the New Dutch Water Defence Line. However, for us two events really stand out; first the Koningsdag (Kings Day) celebrations around the Dutch Church where some 900 people attended and participated and, secondly, the Fund Raiser / Cello Concert in the Dutch Church, hosted by H.E. Ambassador Karel van Oosterom and held in partnership with ABN AMRO Mees Pierson. Both events fully aligned with our purpose (showcase, engage, inspire) and the circle of people the Dutch Centre was able to connect with was increased and strengthened.

The board of trustees is very grateful to the Dutch Church and the Embassy of the Kingdom of the Netherlands in the UK for their support, and we would particularly like to thank the current ambassador, H.E Karel van Oosterom and the dominee / minister of the Dutch Church, Bertjan van de Lagemaat. Furthermore, the PMC (the Dutch Centre’s Programme & Marketing Committee) had been able to put together an attractive and diverse programme once again. The Dutch Centre remains an important part of the cultural agenda in London / the UK and its role in the Dutch community located in the UK should not be under-estimated. Art plays an important role in society, shapes cultures, and builds a better understanding of mankind. Hence “Je Maintiendrai”, I will maintain; we will ensure that the Dutch Centre will play its part for many more years to come. In 2023, the Board will commence several strategy sessions to review its objectives for the next 10 years, and how to further strengthen and build on the good work done in the past and thrive in the future.

The Board would like to thank our Business Manager, Daphna Plaschkes, without whose dedication and hard work the Dutch Centre would undoubtedly come to a standstill. Furthermore, we are grateful to our PR & Marketing officers, Lauren Harris and Suzanne Jansen, our Volunteer Coordinator, Joelle Steijnis and all our volunteers who have worked tirelessly to make the events a success.

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Dutch Centre – Annual Report 2022

ACHIEVEMENTS AND PERFORMANCE

Activities

The Dutch Centre organised a full, ambitious, refreshing and interesting programme of events in 2022 with the objective of bringing Dutch arts, music, language and cultural heritage to the United Kingdom and bringing Dutch and British artists, speakers and musicians together to showcase, engage and inspire. Most of our events were in person at our venue and two were ‘hybrid’, comprising both live and streaming access so as to reach a bigger audience in the UK and overseas. We hosted 15 Dutch Centre events with another just for our Friends, 5 Dutch City Lunches events and 4 hosting events. We were very proud and happy that the Dutch Centre became the permanent home of the Dutch (Nederlandse) City Lunches (NCL) in 2022. The programme attracted a broad and diverse London audience and the reviews of our events were very positive.

In pursuing our objectives of promoting Dutch culture and raising awareness of the historic site, that is the Dutch Church in Austin Friars, the board aims to grow audience numbers for our events held in the Dutch Church and to encourage online views for our hybrid events. Particularly successful from this perspective were the Kingsday event and the hybrid Sustainable Fashion and Talking about Empire events. In 2022, we succeeded in attracting footfall of some 2,000 in the year with a further 700 accessing streaming services.

Films

We continued taking part in the Shortcutz festival and continued our own Low Countries Film Festival in November 2022 with the interesting screening of The Price of Sugar ( Hoe duur was de suiker) (2013), a historic drama about two young women in 18th century Suriname. The screening was followed by a post-screening talk on the post-colonial literature of Suriname.

Music

In 2022 we held three successful music events. Highlight was the Fundraising Cello Concert by the young and talented cellist Emma van Schadewijk, winner of the Public Prize of the 2022 Amsterdam Cello Biennale, in the presence of the Dutch Ambassador to the UK.

Talks

Our talks programme consisted of art/literature talks and a series of talks on Dutch/UK history. We hosted a fascinating lecture by Dr Sjoerd Levelt, Senior Research Associate and Prof Ad Putter, Professor of Medieval English at the University of Bristol. They were the curators of the exhibition North Sea Crossings, telling the story of Anglo-Dutch exchanges through beautiful medieval manuscripts, early prints, maps, and other treasures from the Bodleian Library’s collection. In total, we held six talks:

Comedy

We were very happy to welcome the winners of the Leids Cabaret Festival to the Dutch Centre with three great comedy acts by talented comedians. We were delighted to do a special edition of our end of year Comedy Night in December with comedians Nigel Williams, Teun van den Elzen and comedy duo Vlamousse.

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Dutch Centre – Annual Report 2022

Activities (continued)

Dance (Hosting Event)

Together with the Dutch Masters we hosted the world class Dutch ballet company Nederlands Dans Theater (NDT) at our venue.

Exhibitions

Selma v d Perre (28/06/2022)

Annual events

After a two-year hiatus, the Dutch Centre together with the Dutch organisations in the UK joined forces again to organise a great King’s Day celebration.

Hosting events

Dutch City Lunches

FUNDRAISING ACTIVITIES

As with most charities, the Dutch Centre is dependent on outside funding. The primary source of funding is event sponsorship. The trustees continue to work with the Embassy of the Kingdom of the Netherlands in the UK to jointly develop a series of programmes and are very grateful to the Embassy for sponsorship and other support provided . As the operating environment stabilised after the Covid-19 pandemic, the trustees resolved to seek more sponsorship and donations from other institutions and individuals to reduce reliance on support from the Embassy. This initiative bore fruit in 2022 with over 60% of funds raised through donations and sponsorship sourced from individual and corporate supporters. Some of this progress can be attributed to the continued growth in the number of Friends of the Dutch Centre. The trustees wish to thank in particular our Friends Coordinator, Pia Rainey, for her efforts and look forward to further growth in membership with the launch of new campaigns and incentives in Spring 2023.

FINANCIAL REVIEW

Following two years of disruption due to the Covid-19 pandemic, 2022 saw a return to a more normal operating environment. The Dutch Centre inherited and revitalised the Nederlandse City Lunches programme, staged a varied programme of 15 (mainly evening) events with live audiences and hosted four events on behalf of other organisations. Five of these events received generous sponsorship from the Netherlands Ministry for Foreign Affairs (through our close cooperation with the Embassy of the Kingdom of the Netherlands in the UK) and other organisations stepped in to sponsor a further four events. Details are set out in the section on sources of income. This sponsorship income, together with the renewed ability to sell tickets to audiences, reduced the reported operating loss on staging events from £8,481 in 2021 to £2,507 in 2022. The trustees are encouraged by this improvement and remain committed to achieving break even on operating events in the medium term.

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Dutch Centre – Annual Report 2022

FINANCIAL REVIEW (continued)

Three events were planned for 2022 but were postponed with a view to holding them in 2023. Sponsorship income received for these postponed events less all attributable costs incurred in 2022, and amounting to £10,315, have been treated as Advance Income Received and have not been included in the operating results for the year.

Efforts by the trustees to boost donations from corporates and from individuals, resulted in an increase in funds raised from £ 13,406 in 2021 to £ 23,216 in 2022. This includes Gift Aid recovery. This increased income, together with reduced losses from operating events and tightly controlled overhead spending, enabled the Dutch Centre to record an overall surplus of £9,041 for the year.

The launch of the Nederlandse City Lunch programme in 2022 was partially funded by the transfer of funds of £6,125 from the legacy organisation responsible for this programme in the past. The receipt of these funds, together with the surplus for the year, has enabled the charity to retain cumulative unrestricted funds of £36,886. Unrestricted funds have now met the trustees’ reserves policy.

Looking ahead, the trustees have planned an ambitious programme in 2023 maintaining our focus on high-quality events to attract both a large audience and sponsorship and further boost our financial resources.

Sources of income

The Dutch Centre gratefully received support from the following organisations and individuals in 2022 which was treated as income for the year:

Corporate Support
●
Rabobank
●
ABN AMRO
●
Houthoff
●
Carpenters Company
Event Sponsorship
●
Netherlands Ministry of Foreign Affairs
●
Tom Christiaens Ons Erfdeel
●
Loyens & Loeff
●
Sheffield University
●
ABN AMRO
●
Dutch Masters Foundation
●
ABN AMRO
●
Dutch Academic Network
Individual support
● Friends of the Dutch Centre
● Donations		 £ 4,000
£ 4,000
£ 4,000
£ 1,000
£13,000
£21,021
5 events
£. 300
Talking about Empire
£ 2,500
Liberation Day Concert
£. 2,500
Talking about Empire
£. 4,000
Cello Biennale
£ 1,600
Hosting Event
£. 988
NCL Talk
£ 2,970
Hosting Event
£35,879
£ 2,160
£ 7,153
(Excluding Gift Aid)
£ 9,313

In 2021 the Dutch Centre received sponsorship income from the Netherlands Ministry of Foreign Affairs of £3,100 for the Future of UK/Dutch Urban Planning event and £3,200 for the Waste Age event. £4,595 was received in 2022 to sponsor the Royal Women event. All these events were postponed and are expected to take place in 2023. This income, less any costs incurred for planning these events in 2022, has not been taken to our profit and loss statement for the year but treated as ‘Advance Income Received’ and deferred to 2023 when the events are planned to be held and any additional income and costs will be accounted for. See note 8 to the financial statements.

Other sources of income are ticket sales and proceeds from consumables sold during the event

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Dutch Centre – Annual Report 2022

FINANCIAL REVIEW (continued)

Reserves Policy

The trustees have examined the charity’s requirements for reserves in the light of the main risks to the organisation and updated their policy in 2020.

The Covid-19 pandemic highlighted the need for the trustees to retain sufficient reserves to operate in a climate of great uncertainty, impacting our ability to both stage events and to raise funds. In the light of this experience, the trustees examined the financial impact of a number of scenarios ranging from investing in a year of event planning and promotion without any events taking place through to a full programme of events taking place but with half the historic run rate of sponsorship or ticket sales income. The trustees evaluated the maximum exposure in these scenarios to amount to £30,000 and resolved to build up unrestricted funds to this level.

Unrestricted funds as at 31 December 2022 were £ 36,886 and trustees will seek to maintain these funds within the range of £30,000 - £40,000.

Investment Policy

The charity operates a current account with NatWest bank through which the day to day operations are transacted. To date, surplus funds in the current account are not sufficient to generate material interest income and the trustees are of the opinion that they have not warranted investment, given the near-term cash flow requirements. This policy is regularly reviewed by the trustees.

STRUCTURE, GOVERNANCE and MANAGEMENT

The organisation is a charitable company limited by guarantee, incorporated on 24 April 2013 and registered as a charity on 29 April 2014. The company was established under a Memorandum of Association which established the objects and powers of the charitable company. It is governed by its Articles of Association. In the event of the company being wound up, the members are required to contribute an amount not exceeding £ 1.

According to the Articles of Association, the charity’s objectives are twofold. In the first place, it aims to educate the public in and promote Dutch arts, music, language and the Dutch cultural heritage, in particular by the provision of a Dutch cultural centre in London. In the second place, it aims to advance and promote the preservation and conservation of the Dutch Church at Austin Friars for the benefit of the public. The trustees are in charge of the charity’s operations and its members have a nonexecutive role. All members and trustees give their time voluntarily and receive no benefits from the charity.

The Dutch Centre has its main address at the Dutch Church, 7 Austin Friars in London. It is also the venue where the Dutch Centre normally holds its events. To ensure its independence from the Dutch Church, the trustees of the Dutch Centre appointed by the Church are not allowed by the Articles of Association to form a majority of the Board. This is also reflected in the composition of the membership of the charity. The Dutch Church is one of the three members of the Dutch Centre. The other two members are the Chair of the Board of Trustees of the Dutch Centre and a person independent of both Church and Dutch Centre.

The trustees will meet as often as required but not less than four times a year. In 2022, the trustees held seven meetings. The Dutch Centre’s freelance Business Manager endeavours to attend all trustee meetings as an observer. Once a year, at the Annual General Meeting (AGM), the results relating to the past year are presented to the members on behalf of the trustees. The trustees also then seek approval from the members for the charity’s activities and budget for the next year. In 2022, the AGM was held on 19 October.

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Dutch Centre – Annual Report 2022

Structure, Governance and Management (continued)

The board continues to make solid progress in complying with the Charity Governance Code for Small Charities. A number of good practices recommended by the Code are in place and since 2019 the trustees have regularly reviewed the charity’s performance against Key Performance Indicators. This has continued throughout the most recent year. In addition, the chair of the trustee board meetings aims to place a specific subject covered by the Charity Governance Code for Small Charities on the agenda for trustees meetings where there is time available. For example, in 2022 the trustees were asked to reflect on the areas of diversity and integrity , and what these topics mean for the charity and its conduct. In subsequent discussions, trustees referred back to the principles.

A committee of critical importance to the operation of the Dutch Centre is the Programming & Marketing Committee (PMC). This committee reports to the board of trustees and has been delegated primary responsibility for the organisation and programming of the events in accordance with the objectives of the Dutch Centre. The composition of the PMC changes from time to time but comprises some trustees, the Business Manager, the PR & Marketing Officer, volunteers and independent representatives of the arts and media establishment. The PMC has regard to the size and breadth of the potential audience, the content and diversity of the programmes, the appropriate communication processes, the limitations of the organisation and the financial position. It is also primarily responsible for the evaluation of the event execution and audience satisfaction. Contacts with partners such as the Embassy of the Kingdom of the Netherlands in the UK and others are coordinated through this committee. The Business Manager, Daphna Plaschkes, is engaged as and when required by the Dutch Centre on the basis of a freelance contract. She has been delegated responsibility by the board to take the lead in the preparation and execution of the event programme, in the representation of the Dutch Centre among our cultural partners in the UK, and in a significant part of the fundraising efforts for the Dutch Centre. Daphna is a valued and permanent member of the PMC.

In 2022 the restart of the Nederlandse City Lunches (NCL) commenced after many years of inactivity. This involved bringing the NCL, previously an organisation which operated separately from the Dutch Centre, under the umbrella of the Dutch Centre. In governance terms, it was decided that going forward the NCL events would be organised by a committee of the Dutch Centre. The first event of the NCL since being brought within the Dutch Centre’s governance structure took place on 10 March 2022, with the CEO of ABN AMRO Bank as speaker.

On 19 October 2022, the trustees attended a special strategy session with Hannah Altorf (Independent Member). The title of the session was: ““Dare to dream: the Dutch Centre in 5 and 10 years’ time from now.” On 7 September 2022, part of the trustees’ meeting was attended by Pia Rainey, the Friends coordinator. This resulted in a fruitful exchange of views and ideals relating to the future of the Friends programme. The trustees are grateful to Hannah and Pia for their time.

The Dutch Centre is a registered charity for the purposes of the Charity Commission in the UK as well as with HMRC for Gift Aid and as a general benefit institution ( Algemeen Nut Beogende Instelling , or ANBI ) with a cultural objective ( culturele ANBI ) for the purpose of the Dutch tax authorities. The trustees are mindful of the requirements of these regulatory bodies.

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Dutch Centre – Annual Report 2022

Structure, Governance and Management (continued)

This report covers activities between 1 January 2022 and 31 December 2022. At the start of the year, the following people were Member or Trustee:

On 19 October 2022 the board accepted the resignation of Martijn Tichelaar as Board Secretary and appointed Marieke Albeda as Board Secretary.

This report has been prepared in accordance with the Statement of Recommended Practice (SORP) applicable to charities preparing their report and accounts in accordance with the Financial Reporting Standard applicable to UK and Republic of Ireland (FRS 102) (effective 1 January 2016) - (Charities SORP (FRS 102)) and the Companies Act 2006. The company has taken advantage of the small companies’ exemption in preparing the report above.

The trustees declare that they have approved the trustees’ report (including directors’ report) above.

Signed on behalf of the charity’s trustees/ directors

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Edwin Welman
Chairman and Member
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Date: 11 September 2023

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Dutch Centre – Annual Report 2022

INDEPENDENT EXAMINER’S REPORT to the TRUSTEES of THE DUTCH CENTRE (charity no. 1156855)

I report to the trustees on my examination of the accounts of the above charity for the year ended 31 December 2022.

As the Charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Tilesh Patel

Fellow of the Institute of Chartered Accountants in England and Wales

THE SME CLINIC 7 Stratford Place London W1C 1AY

Date: 11 September 2023

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Dutch Centre – Annual Report 2022

Statement of Financial Activities for the year ended 31 December 2022
2022 2021
Notes Unrestricted
Funds		 Total Funds Total Funds
Gross Income in the reporting
period		 £77,193
£77,193		 £45,806
Total Expenditure in the reporting
period		 £68,152
£68,152		 £45,796
Tax Payable 4 -
-		 -
Net Income for the reporting period £9,041
£9,041		 £10
Reconciliation of Funds:
Total Funds brought forward £21,720
£21,720		 £22,237
Designated Reserves - specific
contributions less expenditure in the
year		 9 £6,125
£6,125		 £(527)
Total Funds carried forward £36,886
£36,886		 £21,720

Detailed analysis of income and expenditure is provided in pages 13 and 14 of these accounts.

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Dutch Centre – Annual Report 2022

INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

2022 2022 2021 2021
Funds Raised
Corporate donations £13,000 £5,000
Individuals £9,313 £7,425
Grants £0 £0
Gift Aid £903 £981
Total Funds Raised £23,216 £13,406
Income fromOperations
TicketsSold £8,854 £1,582
Bar take £5,895 £178
Event sponsorship £35,879 £30,637
Other Income £3,349 £3
£53,977 £32,400
Operations costs
Artists Fees -£5,670 -£5,579
Artists Travel -£3,920 -£1,072
Artists Hotel&Food -£5,247 -£378
FacilityHire -£9,449 -£4,000
Equipment Hire -£4,610 -£7,387
Allocated Personnel -£27,805 -£18,527
EventConsumables/ Other £217 -£3,938
**-£56,484 ** **-£40,881 **
NetGain/(Loss) fromOperations **-£2,507 ** **-£8,481 **
Overheads
FreelanceOverhead -£2,882 -£2,282
Web maintenance -£737 -£574
PR Materials&Printing -£565 -£173
Admin(incl. Bank charges) -£2,772 -£1,064
Governance £0 £0
TotalOverheads -£6,956 -£4,093
Misc. Expenditure
FacilitiesCapex -£629 £0
Charitable Donations -£2,393 £0
Bad Debt Provision £0 £0
Other -£1,690 -£822
Total Misc. Expenditure -£4,711 -£822
Interest/Dividend Income £0 £0
Contingency £0 £0
Surplus/ (loss) for theyear £9,041 £10

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Dutch Centre – Annual Report 2022

Notes to the Income & Expenditure Account

The return to a normal operating environment enabled the Dutch Centre to generate a surplus for the year. The major factors which have contributed to this result are as follows.

The charity does not employ staff. All activities are carried out by volunteers or people on a freelance basis.

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Dutch Centre – Annual Report 2022

BALANCE SHEET AS AT 31 DECEMBER 2022

BalanceSheet BalanceSheet BalanceSheet BalanceSheet BalanceSheet BalanceSheet BalanceSheet
Notes Assets Notes Liabilities
31/12/2022 31/12/2021 31/12/2022 31/12/2021
Current Assets Current Liabilities
NatWest £44,409
£33,616
7		 Creditors £7,112
£1,048
PayPal £93
£5,092
PettyCash £251
£288
8		 Advance Income Received £10,315
£17,575
5 Total Cash £44,754
£38,995
6 Debtors £9,560
£1,348
Prepayments £0
£0
Total Debtors £9,560
£1,348
Total Current Assets £54,313
£40,343		 Total current liabilities £17,427
£18,623
9 Unrestricted Funds
Designated Reserves £6,125
£0
Unrestricted Funds
Reserves brought forward £21,720
£22,238
Transfer to Designated Reserves £0
-£527
Gain/Loss currentyear £9,041
£10
Reserves carried forward £30,761
£21,720
Total Unrestricted Funds £36,886
£21,720
Total Assets £54,313
£40,343		 Total Liabilities £54,313
£40,343

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2016) - (Charities SORP (FRS102)) and the Companies Act 2006.

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

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Edwin Welman
Chairman and Member
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Date: 11 September 2023

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Dutch Centre – Annual Report 2022

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

(a) Basis of Accounting

The financial statements have been prepared in accordance with Accounting and Reporting by charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2016) - (Charities SORP (FRS102)) and the Companies Act 2006.

(b) Fund Accounting

(c) Income

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.

(d) Expenditure

(e) Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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Dutch Centre – Annual Report 2022

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Going Concern

The trustees acknowledge that the charity relies on donations, grants and sponsorship to support its continuing ability to fund events in pursuit of its aims and objectives. They also recognise that the Embassy of the Kingdom of the Netherlands in the UK and the Dutch Church are key supporters and maintaining a close relationship with both is critical to continued operations. The Covid-19 crisis obliged the Dutch Centre to cancel or postpone a number of events. The trustees recognise that the impact of further suspension of activities in any one year will both temporarily stop the inflow of income but will also limit costs incurred to some planning and promotional costs for future events and consider that the reserves are sufficient to maintain viability for the foreseeable future.

3. Trustees Remuneration and Related Party Transactions

No trustees received any remuneration during the year (2021: Nil) or were reimbursed for any costs incurred in pursuit of their duties (2021: Nil).

No trustee had any personal interest in any contract or transaction entered into by the charity during the year (2021: Nil).

The charity does not employ any staff. All activities are carried out by volunteers or people contracted on a freelance basis.

4. Taxation

The charity is exempt from tax on its charitable activities. Gift Aid is accounted for in the year of receipt.

5. Cash at Bank and in Hand

The PayPal account is used to collect proceeds from ticket sales. The amounts collected are periodically transferred to the main operating current account held with NatWest Bank.

6. Debtors

Debtors represent ticket sales income and donations and sponsorship income pledged but not received as at 31 December 2022.

7. Creditors

Creditors represent costs incurred but not settled prior to 31 December 2022.

8. Advance Income Received

The ongoing impact of the Covid-19 pandemic forced the Dutch Centre to postpone 3 events for which sponsorship income had been received and/or for which some costs had been incurred in 2021/22 and which could be rearranged. The total amount of sponsorship income less the relevant costs incurred in 2021/22 amounted to £ 10,315 and has been treated as Advance Income Received and will be released to the profit and loss statement in 2023, together with any additional income received and costs incurred in 2023, when these events are planned to be held.

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Dutch Centre – Annual Report 2022

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Unrestricted Funds

The Dutch Centre realised a surplus of £9,041 for the year ended 31 December 2022 and has enabled the charity to retain cumulative unrestricted funds of £36,886. The designated reserve was established in 2020 to fund the design of the new website and this was completed in 2021. The contribution of reserves of £6,125 from the legacy organisation to fund the launch of the Nederlandse City Lunches programme was treated as a designated reserve to aid transparency.

Unrestricted Funds brought forward
Transfer to designated reserves
Surplus for the year
Unrestricted Funds carried forward
Designated Reserves brought forward
Transfer from unrestricted funds
Contribution from NCL organisation
Expenditure in the year
Designated Reserves carried forward
Total Unrestricted Funds as at 31 December		 2022
£21,720
-
£ 9,041
£30,761
£ NIL
-
£ 6,125
-
£ 6,125
£36,886		 2021
£ 22,237
£ (527)
£ 10
£ 21,720
£ 3,214
£ 527
-
£(3,741)
£ NIL
£21,720

Reserves have reached the level of £30,000 set by trustees in their Reserves Policy and the trustees have resolved to retain reserves between £30,000 and £40,000 in the medium term.

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